Heirs Holdings, a pan-African investment company, chaired by Mr. Tony Elumelu, Tuesday signed an agreement with the Lagos State Development Property Corporation (LSDPC), for the redevelopment of the iconic Falomo Shopping Mall located in Ikoyi, Lagos State. The mall will undoubtedly be redeveloped in to a shopping mall, a company complex and top notch residential apartments that will serve the requirements of the burgeoning populace in Lagos State and beyond.
Speaking at the website tour, the Managing Director of LSDPC, Mr. Biodun Oki, said: "The Falomo Shopping Mall's redevelopment is long overdue. Our partnership with Heirs Holdings is consistent with their state government's urban redevelopment project and it bodes well for their state, the united states and for the citizens.
"Once this project is completed, we can all look forward to a fresh and improved landscape that will stimulate business activity in this area and beyond.
"Relating to the private sector within our redevelopment agenda could be the model for all future projects."
Speaking on the program to remodel the shopping complex, the chairman of Heirs Holdings said: "Redeveloping among the country's most iconic malls is part of our commitment to drive development and move Nigeria forward through our business activities.
"As well as financial services, oil and gas, and power, real estate and hospitality is another of our core sectors since it plays a vital role in a nation's development. Specifically, real estate development contributes not merely visually but economically to the country's progress.
"We've other development projects in the offing. This include the Transcorp Hotels in Ikoyi, Lagos and Port Harcourt, that'll commence this quarter now that people have secured the land.
"We are also expanding our existing property in Abuja and that is just the start of the mega plans we have to transform the Nigerian skyline."
The Falomo Shopping Mall redevelopment project is really a private-public sector agreement between Heirs Real Estate Limited, a wholly owned subsidiary of Heirs Holdings, and the Lagos State Development Property Corporation (LSDPC).
Heirs Holdings is really a pan-African proprietary investment company that deploys capital in projects that will yield value on the long term.
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